Moody Aldrich Partners LLC Sells 1,693 Shares of SL Green Realty Corporation $SLG

Moody Aldrich Partners LLC lessened its stake in SL Green Realty Corporation (NYSE:SLG) by 1.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 109,789 shares of the real estate investment trust’s stock after selling 1,693 shares during the quarter. SL Green Realty accounts for approximately 1.3% of Moody Aldrich Partners LLC’s holdings, making the stock its 20th biggest position. Moody Aldrich Partners LLC owned approximately 0.15% of SL Green Realty worth $6,796,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Strs Ohio increased its stake in SL Green Realty by 181.5% during the 2nd quarter. Strs Ohio now owns 77,700 shares of the real estate investment trust’s stock valued at $4,810,000 after purchasing an additional 50,100 shares in the last quarter. Amalgamated Bank increased its position in shares of SL Green Realty by 1.2% during the second quarter. Amalgamated Bank now owns 20,245 shares of the real estate investment trust’s stock valued at $1,253,000 after acquiring an additional 235 shares in the last quarter. Mizuho Markets Cayman LP bought a new stake in shares of SL Green Realty during the second quarter valued at approximately $783,000. Teacher Retirement System of Texas raised its holdings in SL Green Realty by 3.1% in the 2nd quarter. Teacher Retirement System of Texas now owns 10,742 shares of the real estate investment trust’s stock worth $665,000 after acquiring an additional 318 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd boosted its stake in SL Green Realty by 77.1% during the 2nd quarter. Y Intercept Hong Kong Ltd now owns 13,851 shares of the real estate investment trust’s stock valued at $857,000 after purchasing an additional 6,030 shares during the last quarter. Institutional investors own 89.96% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on SLG. Citigroup raised SL Green Realty from a “neutral” rating to a “buy” rating and increased their price objective for the company from $65.00 to $70.00 in a research report on Friday, September 12th. Jefferies Financial Group raised shares of SL Green Realty from a “neutral” rating to a “buy” rating and raised their price target for the company from $57.00 to $63.00 in a report on Monday, October 13th. Scotiabank set a $66.00 price target on shares of SL Green Realty and gave the stock a “sector outperform” rating in a research note on Friday, October 24th. Wells Fargo & Company lowered their price objective on shares of SL Green Realty from $58.00 to $54.00 and set an “equal weight” rating on the stock in a research report on Monday. Finally, Bank of America cut their target price on shares of SL Green Realty from $64.00 to $61.00 and set a “neutral” rating for the company in a research report on Friday, October 17th. Five research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, SL Green Realty currently has a consensus rating of “Hold” and an average price target of $64.40.

Insider Transactions at SL Green Realty

In related news, Director Carol N. Brown sold 937 shares of the stock in a transaction that occurred on Thursday, September 11th. The shares were sold at an average price of $63.09, for a total value of $59,115.33. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 5.04% of the company’s stock.

SL Green Realty Stock Performance

SLG opened at $51.46 on Friday. The company’s 50 day moving average is $57.93 and its 200 day moving average is $58.15. The company has a current ratio of 3.22, a quick ratio of 2.72 and a debt-to-equity ratio of 1.04. The company has a market cap of $3.67 billion, a price-to-earnings ratio of 5,150.85 and a beta of 1.77. SL Green Realty Corporation has a 12-month low of $45.15 and a 12-month high of $82.81.

SL Green Realty (NYSE:SLG) last released its quarterly earnings results on Wednesday, October 15th. The real estate investment trust reported $1.58 earnings per share for the quarter, topping the consensus estimate of $1.34 by $0.24. SL Green Realty had a net margin of 1.75% and a negative return on equity of 0.22%. The business had revenue of $149.67 million for the quarter, compared to the consensus estimate of $170.27 million. During the same period last year, the firm earned $1.26 earnings per share. The company’s quarterly revenue was up 7.2% on a year-over-year basis. On average, equities research analysts predict that SL Green Realty Corporation will post 5.43 EPS for the current year.

SL Green Realty Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Monday, November 17th. Investors of record on Friday, October 31st will be paid a dividend of $0.2575 per share. The ex-dividend date is Friday, October 31st. This represents a c) dividend on an annualized basis and a dividend yield of 6.0%. SL Green Realty’s payout ratio is 30,900.00%.

SL Green Realty Company Profile

3SL Green Realty Corp., Manhattan’s largest office landlord, is a fully integrated real estate investment trust, or REIT, that is focused primarily on acquiring, managing and maximizing value of Manhattan commercial properties. As of June 30, 2022, SL Green held interests in 64 buildings totaling 34.4 million square feet.